GoZayaan, a Bangladeshi digital travel solution platform, has acquired Pakistani company FindMyAdventure, becoming the first travel-tech platform to acquire a company beyond its borders.
For this acquisition, GoZayaan raised an undisclosed amount of seed extension round which was backed by existing investors - Nordstar Partners, Saurabh Gupta, Partner at DST Global and Alexander Rittweger, Founder of PAYBACK.
Last year, GoZayaan closed its US$2.6 million seed round which was led by Wavemaker Partners and joined by VCs such as Ratio Venture, 1982 VC, Iterative, Century Oak Capital along with current and former Airbnb Execs.
Previously, GoZayaan had raised its pre-seed round from BRAC Osiris Impact Ventures.
GoZayaan has been trying to find digital solutions to travel problems by building an end-to-end automated travel booking system.
The core reason for acquiring a Pakistani travel-tech platform is the similarity in geography, internet penetration and user behaviour in terms of travel booking.
This acquisition will play a key role in shaping the future of travel in the South Asian region as GoZayaan expands overseas, paving a path of tech-enabled innovative solutions.
“Bangladesh has the potential to create not just local, but also regional or global companies. We are going to try exactly that. This unlocks a total addressable market for us which is massive because together, Bangladesh and Pakistan constitute 5 per cent of the world's total population. We said we were going to create the future of travel; well the future starts now,” said GoZayaan CEO Ridwan Hafiz, in a statement.
GoZayaan plans to cater to more customers with better user experience, technological support and offer further digital solutions to make travel more convenient.
A new notion of pride is added as GoZayaan’s acquisition of a Pakistani travel-tech platform sets the stage for future deals overseas, signalling an OTA boom in the South Asian market.
GoZayaan started its journey with the mission to shift the tourism scene into the digital space.
The company’s passion for solving problems through rapid technology adoption was proven when it saw near 10 times growth over the year 2021 - a time when tourism was at its lowest due to the pandemic.